South Korea will likely spend up to 8.8 trillion won (US$8.3 billion) in funding key international financial bodies next year, as part of an effort to raise its stature in the global community, the government said Sunday.

The Ministry of Strategy and Finance recently briefed the parliament on a plan to spend an extra 8.48 trillion won in 2014 in funding international financial organizations, on top of the 272.9 billion won fixed for next year, according to ministry officials.